XML 17 R5.htm IDEA: XBRL DOCUMENT v3.22.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenue:        
Leasing revenue $ 9,345 $ 6,371 $ 18,167 $ 11,966
Total revenue 68,250 72,239 133,121 113,545
Expenses:        
Corporate and other operating expenses 5,515 5,106 11,172 12,175
Depreciation, depletion and amortization 5,466 4,124 10,492 7,978
Total expenses 49,445 41,489 94,092 77,256
Operating income (loss) 18,805 30,750 39,029 36,289
Other income (expense):        
Investment income, net 2,496 1,287 4,796 2,482
Interest expense (4,071) (3,854) (8,224) (7,525)
Gain on contributions to unconsolidated joint ventures 89 3,169 571 3,290
Other income, net 4,285 972 3,917 2,266
Total other income, net 2,799 1,574 1,060 513
Income before equity in income (loss) from unconsolidated joint ventures and income taxes 21,604 32,324 40,089 36,802
Equity in income (loss) from unconsolidated joint ventures 1,430 (601) 934 (1,070)
Income tax expense (5,945) (7,699) (10,480) (8,751)
Net income (loss) 17,089 24,024 30,543 26,981
Net (income) loss attributable to non-controlling interest (50) 200 (92) 439
Net income attributable to the Company $ 17,039 $ 24,224 $ 30,451 $ 27,420
NET INCOME PER SHARE ATTRIBUTABLE TO THE COMPANY        
Basic (in dollars per share) $ 0.29 $ 0.41 $ 0.52 $ 0.47
Diluted (in dollars per share) $ 0.29 $ 0.41 $ 0.52 $ 0.47
WEIGHTED AVERAGE SHARES OUTSTANDING        
Basic (in shares) 58,882,392 58,882,549 58,882,470 58,882,549
Diluted (in shares) 58,887,440 58,882,549 58,885,046 58,882,549
Real Estate        
Revenue:        
Revenue $ 28,027 $ 41,063 $ 64,801 $ 62,116
Expenses:        
Cost of revenue 12,800 14,052 28,095 24,595
Hospitality        
Revenue:        
Revenue 29,556 22,627 45,877 35,694
Expenses:        
Cost of revenue 21,411 15,437 36,279 26,933
Leasing        
Expenses:        
Cost of revenue 3,998 2,527 7,650 5,191
Timber        
Revenue:        
Revenue 1,322 2,178 4,276 3,769
Expenses:        
Cost of revenue $ 255 $ 243 $ 404 $ 384